Economic Development Commission Business Meeting - October 8, 2026

The Golden Economic Development Commission (EDC) met on October 8, 2026. The agenda covered the selection of an economic indicator dashboard platform (mySidewalk vs. Lightcast), an update on the Makerspace Feasibility Study, and a thorough review of the proposed 2026–2028 biennial budget. Staff also provided updates on business retention, a major CRM data reconciliation, and June 2026 tax revenue performance.

Consent Calendar

• Agenda approved by unanimous voice vote.
• Minutes of the September 10, 2026, meeting approved by unanimous voice vote.

Public Comments & Testimony

• No members of the public provided comment in person or via email.

Discussion Items

Economic Indicator Dashboard: Platform Evaluation & Draft Indicator Review

• Staff (Economic Development Manager Tim Dwyer and Specialist Abdullah Saquib) presented findings from a trial of mySidewalk and Lightcast. Lightcast offered superior real-time labor market analytics, while mySidewalk provided equivalent public data coverage, a more intuitive modular interface, lower cost, and better long-term maintainability. Staff formally recommended the adoption of mySidewalk.
• Board members expressed support for the staff recommendation and process. Member Jim Weiler emphasized the critical importance of operational longevity for future staff transitions. Staff noted that Jefferson County EDC holds a Lightcast license available for quarterly queries by member municipalities, preserving access to advanced workforce analytics.
• The board reviewed a draft framework of 24 indicators across four pillars: Demographics, Workforce & Industry, Housing & Affordability, and Commerce & Fiscal. Member Tracy Atkins raised concerns about relying on stale 5-year ACS data and urged a focus on trend lines and more frequent sources such as Zillow for median home values. Members also discussed the importance of the Innovation Economy indicator (patents per capita), widely described as a unique strength for Golden.
• A consensus emerged to explore adding a fifth "Quality of Life" pillar, which could include parkland per capita, trail mileage, crime statistics, and school performance data. Staff will investigate data availability

Makerspace Feasibility Study Update

• Tim Dwyer reported that the contract with Artspace Consultants is formalized. A kick-off call with the core stakeholder group is scheduled for October 20th. A virtual artist focus group is planned for the week of November 30th, followed by a two-day site visit the week of December 7th.
• Board members Tracy Atkins and Jim Weiler are serving on the ad-hoc Makerspace Subcommittee, with Chair Lauren Hartman as alternate. Members of the subcommittee are expected to participate in the kick-off call alongside staff.
• Atkins requested that the Golden Startup Network and the Chamber of Commerce be added to the stakeholder group to ensure a strong business-angle perspective. Jim Weiler offered to connect staff with an NREL contact. Staff agreed to pursue these additions.

2026–2028 Proposed Budget Review

• Tim Dwyer presented the proposed budget for board discussion, noting that City Council has not yet approved the full municipal budget (expected in November). Key proposed budgetary changes highlighted by staff include:
  • Training/Travel/Outreach: increased from $5,700 to $10,000/yr for 2027–2028.
  • Makerspace Support: budgeted at $20,000/yr for 2027–2028.
  • Economic Dashboard Tool: new line item at $15,000/yr for 2027–2028.
  • Digital Tools (Bludot/Qwally): proposed to move to IT Department overhead starting in 2027, freeing up approximately $15,000/yr.
  • Community Sponsorships: increased from $9,800 to $12,000/yr for 2027–2028.
  • Grant Program: request to increase to $50,000 was declined by finance; remains at $40,000/yr.
  • Business Mentor Program: a significant $60,000 allocation was approved in the proposed budget for 2028.
• Staff noted that the 2026 budget has sufficient remaining capacity in Professional Services to absorb the dashboard tool expenditure this year. A formal vote on the budget is scheduled for the November meeting.

Key Outcomes

• Dashboard Platform Direction: The board directed staff to proceed with finalizing a contract for mySidewalk. A formal vote on the expenditure is expected at the November meeting following IT and accessibility clearance.
• Indicator Framework Expansion: Staff will investigate adding a "Quality of Life" indicators pillar and pursue more frequent data sources for Housing & Affordability metrics (e.g., Zillow, MLS, county assessment data).
• Makerspace Stakeholders: The stakeholder group will be expanded to include the Golden Startup Network, Chamber of Commerce, and an NREL contact.
• Budget Path Forward: Staff will prepare a final 2026–2028 budget reflecting finance department adjustments for formal board approval in November. The 2026 budget has sufficient flexibility to launch the dashboard tool.
• CRM Expansion: The Bludot update added 430 new businesses, 988 direct emails, and 921 phone contacts, raising total outreach coverage from 86.1% to 94.6% of registered entities. Staff will recommend an annual update cycle.
• Tax Revenue Monitoring: Sales tax YTD is $12.19 million, 2.98% above 2025 and $79,504 over budget. Marijuana tax continues to outperform, up 16.1% YTD and $101,804 above budget. Use tax collections remain 17.15% behind 2025 despite improvement in June. Lodging tax is 5.5% behind 2025 year-to-date. Staff will continue to monitor geographic sales tax variations and lodging seasonality.